Market Overview
The S&P 500 ended higher on Tuesday (June 10), lifted by a rally in Tesla as investors bet on positive results from U.S.-China trade talks aimed at defusing a tariff dispute that has roiled global markets this year.
Regarding the options market, a total volume of 42,508,454 contracts was traded, down 6% from the previous trading day.
Top 10 Option Volumes
Top 10: $TSLA(TSLA)$, $NVDA(NVDA)$, $AAPL(AAPL)$, $VIX(VIX)$, $INTC(INTC)$, $PLTR(PLTR)$, $AMD(AMD)$, $AMZN(AMZN)$, $CRWV(CRWV)$, $GOOG(GOOG)$
Source: Tiger Trade App
$Tesla(TSLA)$ shares jumped 5.7% on Tuesday as a video showing a driverless Tesla vehicle on the streets of Austin, Texas added to expectations that the company’s robo-taxi service isn’t far away. Tuesday’s gains put Tesla’s market value back above $1 trillion.
There are 2.76 million Tesla option contracts traded on Tuesday, up 15% from the previous trading day. Call options account for 63% of overall option trades. Particularly high volume was seen for the $320 strike call option expiring June 13, with 155,952 contracts trading. TSLA 20250613 320.0 CALL
Unusual Options Activity
Source: Market Chameleon
$Intel(INTC)$ shares jumped 7.8% on Tuesday, pacing gains on the S&P 500, as chip stocks rallied amid hopes that curbs on exports to China could be eased.
There are 849.37K Intel option contracts traded on Tuesday, up 239% from the previous trading day. Call options account for 78% of overall option trades. Particularly high volume was seen for the $22 strike call option expiring June 13, with 54,293 contracts trading. INTC 20250613 22.0 CALL
$Plug Power(PLUG)$ shares gained another 4.9% on Tuesday. Shares of Plug Power surged 25.9% Monday on $5.5 billion Uzbekistan deal. Meanwhile, The company also announced that Paul Middleton, CFO, has purchased an additional 650,000 shares of Plug’s common stock on the open market.
There are 271.64K Plug Power option contracts traded on Tuesday, up 23% from the previous trading day. Call options account for 87% of overall option trades. Particularly high volume was seen for the $1.5 strike call option expiring June 20, with 53,345 contracts trading. PLUG 20250620 1.5 CALL
TOP 10 S&P 500 Bullish & Bearish
This report shows stocks with the highest volume of bullish and bearish activity by option delta volume, which converts option volume to an equivalent stock volume (bought or sold).
If we take the total positive option delta volume and subtract the total negative option delta volume, we will get the net imbalance. If the net imbalance is positive, there is more bullish pressure. If the net is negative, there is more bearish pressure.
Based on option delta volume, traders bought a net equivalent of 130,929 shares of Meta stock. The largest bullish delta came from buying calls. The largest delta volume came from the 27-Jun-25 650 Call, with traders getting long 88,061 deltas on the single option contract. META 20250627 650.0 CALL
Top 10 bullish stocks: $META(META)$, $PLTR(PLTR)$, $KHC(KHC)$, $GOOG(GOOG)$, $LLY(LLY)$, $XOM(XOM)$, $AMD(AMD)$, $T(T)$, $APO(APO)$, $TGT(TGT)$
Top 10 bearish stocks: $GOOGL(GOOGL)$, $TSLA(TSLA)$, $ADM(ADM)$, $NFLX(NFLX)$, $BAC(BAC)$, $GE(GE)$, $SMCI(SMCI)$, $NVDA(NVDA)$, $PEP(PEP)$; $F(F)$
Source: Market Chameleon
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